Missoula Industrial 2023
Montana industrial product continues to hold a position in the spotlight – with Missoula industrial product showing gains. The tremendous growth in e-commerce has been the primary driver of the push on industrial product, as e-commerce propelled major warehouse and distribution expansion across the nation – including Montana.
E-commerce currently accounts for about 20% of retail sales and analysts predict that e-commerce sales will reach 32% by 2032 – and is expected to grow until it reaches 40-45% of total retail sales. This calls for an industrial expansion well into the next decade.
What’s Moving the Market?
What’s more, the concept of reverse logistics has increased demand for more back-end space for retailers. It has also merged into the self-storage world, and the trend is to use AI to create efficiencies and solve labor shortages in the manufacturing world.
Industrial Outside Storage (IOS) is an emerging trend providing additional space for businesses to store their equipment and materials outside their warehouses. This can help to free up indoor space for production and can provide cost savings for businesses.
The industrial real estate market is poised for growth in 2023, thanks to the continuous demand for warehouse space and the emerging trends that are driving the market. The industrial sector’s future looks bright, and investors and developers should keep an eye on this market to seize new opportunities.
